The $5.37 billion offer appeared to come out of the blue - and was well received in Australia where the shares jumped 21% before they were halted.
The online investment platform is now valued six-times what it was in 2018 and is set for a capital raise.
Net migration, an ageing population and tourism have contributed to a supply and demand imbalance in the NZ housing market, report finds.
The two key questions are: how long will global immunisation take, and could a vaccinated person still spread covid-19?